Median
Definition
The middle value when data are sorted — half above, half below. Robust to outliers; preferred for skewed distributions like income.
Example
Median US household income is around $75K; mean is much higher because of top earners.
The middle value when data are sorted — half above, half below. Robust to outliers; preferred for skewed distributions like income.
Median US household income is around $75K; mean is much higher because of top earners.